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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers -- Ignore unavailable to you. Want to Upgrade?

To: jpthoma1 who wrote (9962)	4/30/2006 10:56:03 AM
From: karead	Read Replies (1) \| Respond to of 78418

Some inaccuracies in your post, jpthoma1. Patricia's MD&A released Friday and dated April 24th states that the Island gold project is expected to produce 20,000 ounces in 2006. Not 17,000. And Patricia's share is indeed 45%. However they are paying back debt to Richmont, and the agreement states that PAT will get to keep cash flow of 30% until the debt is paid back. So, Pat will get the profit from 9,000 ounces in 2006, not 5,000 as you state. Yes, I'd agree that RIC is undervalued. I expect that why it's been moving up strongly. But compare just about any time period, and PAT has been the better investment. I expect it will continue to be.